FORM 10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

(Mark One)

(X)   QUARTERLY REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended December 31, 2000

or

( )   TRANSITION REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______
Commission file number        0-21718



BOSTON CAPITAL TAX CREDIT FUND III L.P.(Exact name of registrant as specified in its charter)



|Delaware                          | 52-1749505         
|--------------------------------- | -------------------
|(State or other jurisdiction      | (I.R.S. Employer   
|of incorporation or organization) | Identification No.)



One Boston Place, Suite 2100, Boston, Massachusetts  02108(Address of principal executive offices)           (Zip Code)

Registrants telephone number, including area code (617)624-8900

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceeding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.



|Yes | X |  | No | _
|--- | - |  | -- | -









BOSTON CAPITAL TAX CREDIT FUND III L.P.



QUARTERLY REPORT ON FORM 10-QFOR THE QUARTER ENDED DECEMBER 31, 2000



TABLE OF CONTENTS

FOR THE QUARTER ENDED decEMBER 31, 2000





























Nine_Months_Operations_Series_1517

Nine_Months_Operations_Series_1618

Nine_Months_Operations_Series_17*







Changes_in_Partners_Capital_Series_1523

Changes_in_Partners_Capital_Series_1623

Changes_in_Partners_Capital_Series_1724

Changes_in_Partners_Capital_Series_1824

Changes_in_Partners_Capital_Series_1925

Statements_of_Cash_Flows26

nine MONTHS Ended decEMBER

Statements_of_Cash_Flows_Series_15*

















Cost

Note_C_Related_Party_Transactions41

Note_D_Investments41

Combined_Statements_of_Operations43

Combined_Statements_Series_1543

Combined_Statements_Series_1644

Combined_Statements_Series_1745

Combined_Statements_Series_1846

Combined_Statements_Series_19*







Part_II_Other_Information55

SIGNATURES	56











Boston Capital Tax Credit Fund III L.P.

BALANCE SHEETS



|                                                                                                                                                                       | December 31,
2000
(Unaudited) | March 31,
2000
(Audited)
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------- | ------------------------
|ASSETS                                                                                                                                                                 |                               |                         
|INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)                                                                                                                         | $ 89,298,506                  | $ 96,374,955            
|                                                                                                                                                                       |                               |                         
|OTHER ASSETS                                                                                                                                                           |                               |                         
|Cash and cash equivalents                                                                                                                                              | 1,557,256                     | 1,754,063               
|Investments                                                                                                                                                            | 1,450,845                     | 1,538,967               
|Notes receivable                                                                                                                                                       | 1,309,982                     | 1,364,322               
|Deferred acquisition costs,
net of accumulated amortization
(Note B)                                                                                                   | 1,491,677                     | 1,543,349               
|Other assets                                                                                                                                                           | 3,062,353                     | 2,940,636               
|                                                                                                                                                                       | $98,170,619                   | $105,516,292            
|                                                                                                                                                                       |                               |                         
|LIABILITIES                                                                                                                                                            |                               |                         
|                                                                                                                                                                       |                               |                         
|Accounts payable & accrued expenses 
(Note C)                                                                                                                          | $      4,553                  | $      4,553            
|Accounts payable affiliates                                                                                                                                            | 15,087,534                    | 13,374,147              
|Capital contributions payable                                                                                                                                          | 1,400,750                     | 1,432,250               
|                                                                                                                                                                       | 16,492,837                    | 14,810,950              
|                                                                                                                                                                       |                               |                         
|PARTNERS CAPITAL                                                                                                                                                       |                               |                         
|                                                                                                                                                                       |                               |                         
|Limited Partners

Units of limited partnership
interest, $10 stated value per BAC;
22,000,000 authorized BACs;
21,996,102 issued and outstanding,
as of March 31, 2000 | 82,750,666                    | 91,687,950              
|General Partner                                                                                                                                                        | (1,072,884)                   | (982,608)               
|                                                                                                                                                                       | 81,677,782                    | 90,705,342              
|                                                                                                                                                                       | $98,170,619                   | $105,516,292            









The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.

BALANCE SHEETS

Series 15



|                                                                                                                                                                                  | December 31,
2000
(Unaudited) | March 31,
2000
(Audited)
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------- | ------------------------
|ASSETS                                                                                                                                                                            |                               |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS(Note D)                                                                                                                                  | $10,994,844                   | $12,293,726             
|                                                                                                                                                                                  |                               |                         
|OTHER ASSETS                                                                                                                                                                      |                               |                         
|Cash and cash equivalents                                                                                                                                                         | 342,030                       | 308,497                 
|Investments                                                                                                                                                                       | 141,938                       | 135,167                 
|Notes receivable                                                                                                                                                                  | -                             | 32,170                  
|Deferred acquisition costs, 
   net of accumulated amortization
  (Note B)                                                                                                        | 228,628                       | 236,512                 
|Other assets                                                                                                                                                                      | 857,541                       | 858,625                 
|                                                                                                                                                                                  | $12,564,981                   | $13,864,697             
|                                                                                                                                                                                  |                               |                         
|LIABILITIES                                                                                                                                                                       |                               |                         
|                                                                                                                                                                                  |                               |                         
|Accounts payable & accrued expenses 
  (Note C)                                                                                                                                   | $     1,145                   | $      1,145            
|Accounts payable affiliates                                                                                                                                                       | 4,145,451                     | 3,734,413               
|Capital contributions payable                                                                                                                                                     | 32,922                        | 32,922                  
|                                                                                                                                                                                  | 4,179,518                     | 3,768,480               
|                                                                                                                                                                                  |                               |                         
|PARTNERS CAPITAL                                                                                                                                                                  |                               |                         
|                                                                                                                                                                                  |                               |                         
|Limited Partners
Units of limited partnership 
   interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   3,870,500 issued and outstanding,
   as of March 31, 2000 | 8,634,280                     | 10,327,926              
|General Partner                                                                                                                                                                   | (248,817)                     | (231,709)               
|                                                                                                                                                                                  | 8,385,463                     | 10,096,217              
|                                                                                                                                                                                  | $12,564,981                   | $13,864,697             

The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.

BALANCE SHEETS

Series 16



|                                                                                                                                                                                     | December 31,
2000
(Unaudited) | March 31,
2000
(Audited)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------------------------- | ------------------------
|ASSETS                                                                                                                                                                               |                               |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS (Note D)                                                                                                                                    | $21,638,281                   | $23,933,776             
|                                                                                                                                                                                     |                               |                         
|OTHER ASSETS                                                                                                                                                                         |                               |                         
|Cash and cash equivalents                                                                                                                                                            | 188,077                       | 307,415                 
|Investments                                                                                                                                                                          | 673,113                       | 652,708                 
|Notes receivable                                                                                                                                                                     | -                             | -                       
|Deferred acquisition costs, 
   net of accumulated amortization 
  (Note B)                                                                                                          | 366,533                       | 379,171                 
|Other assets                                                                                                                                                                         | 137,450                       | 130,891                 
|                                                                                                                                                                                     | $23,003,454                   | $25,403,961             
|                                                                                                                                                                                     |                               |                         
|LIABILITIES                                                                                                                                                                          |                               |                         
|                                                                                                                                                                                     |                               |                         
|Accounts payable & accrued expenses 
  (Note C)                                                                                                                                      | $         -                   | $         -             
|Accounts payable affiliates                                                                                                                                                          | 3,538,030                     | 3,119,046               
|Capital contributions payable                                                                                                                                                        | 138,506                       | 140,006                 
|                                                                                                                                                                                     | 3,676,536                     | 3,259,052               
|                                                                                                                                                                                     |                               |                         
|PARTNERS CAPITAL                                                                                                                                                                     |                               |                         
|Limited Partners
Units of limited partnership    
   Interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   5,429,402 issued and outstanding,
   as of March 31, 2000 | 19,600,258                    | 22,390,069              
|General Partner                                                                                                                                                                      | (273,340)                     | (245,160)               
|                                                                                                                                                                                     |                               |                         
|                                                                                                                                                                                     | 19,326,918                    | 22,144,909              
|                                                                                                                                                                                     | $23,003,454                   | $25,403,961             





The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.

BALANCE SHEETSSeries 17



|                                                                                                                                                                                            | December 31,
2000
(Unaudited) | March 31,
2000
(Audited)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------- | ------------------------
|ASSETS                                                                                                                                                                                      |                               |                         
|INVESTMENTS IN OPERATING 
   PARTNERSHIPS (Note D)                                                                                                                                          | $20,382,694                   | $21,661,017             
|                                                                                                                                                                                            |                               |                         
|OTHER ASSETS                                                                                                                                                                                |                               |                         
|Cash and cash equivalents                                                                                                                                                                   | 410,802                       | 404,005                 
|Investments                                                                                                                                                                                 | -                             | -                       
|Notes receivable                                                                                                                                                                            | 1,309,982                     | 1,332,152               
|Deferred acquisition costs, 
   net of accumulated amortization
  (Note B)                                                                                                                  | 330,436                       | 342,098                 
|Other assets                                                                                                                                                                                | 1,949,617                     | 1,874,478               
|                                                                                                                                                                                            | $24,383,531                   | $25,613,750             
|                                                                                                                                                                                            |                               |                         
|LIABILITIES                                                                                                                                                                                 |                               |                         
|                                                                                                                                                                                            |                               |                         
|Accounts payable & accrued expenses 
  (Note C)                                                                                                                                             | $         -                   | $         -             
|Accounts payable affiliates                                                                                                                                                                 | 4,474,223                     | 3,985,826               
|Capital contributions payable                                                                                                                                                               | 1,186,768                     | 1,206,768               
|                                                                                                                                                                                            | 5,660,991                     | 5,192,594               
|                                                                                                                                                                                            |                               |                         
|PARTNERS CAPITAL                                                                                                                                                                            |                               |                         
|                                                                                                                                                                                            |                               |                         
|Limited Partners 
  
   Units of limited partnership    
   Interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   5,000,000 issued and outstanding,
   as of March 31, 2000 | 18,964,994                    | 20,646,624              
|General Partner                                                                                                                                                                             | (242,454)                     | (225,468)               
|                                                                                                                                                                                            | 18,722,540                    | 20,421,156              
|                                                                                                                                                                                            | $24,383,531                   | $25,613,750             



The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.

BALANCE SHEETSSeries 18



|                                                                                                                                                                                            | December 31,
2000
(Unaudited) | March 31,
2000
(Audited)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------- | ------------------------
|ASSETS                                                                                                                                                                                      |                               |                         
|INVESTMENTS IN OPERATING
PARTNERSHIPS (NOTE D)                                                                                                                                              | $ 15,479,925                  | $ 16,650,144            
|                                                                                                                                                                                            |                               |                         
|OTHER ASSETS                                                                                                                                                                                |                               |                         
|Cash and cash equivalents                                                                                                                                                                   | 261,590                       | 377,094                 
|Investments                                                                                                                                                                                 | 107,824                       | 102,771                 
|Notes receivable                                                                                                                                                                            | -                             | -                       
|Deferred acquisition costs,
net of accumulated amortization
(Note B)                                                                                                                        | 249,183                       | 257,743                 
|Other assets                                                                                                                                                                                | 91,304                        | 62,002                  
|                                                                                                                                                                                            | $16,189,826                   | $17,449,754             
|                                                                                                                                                                                            |                               |                         
|LIABILITIES                                                                                                                                                                                 |                               |                         
|                                                                                                                                                                                            |                               |                         
|Accounts payable & accrued expenses
(Note C)                                                                                                                                                | $          -                  | $          -            
|Accounts payable affiliates                                                                                                                                                                 | 1,848,397                     | 1,661,937               
|Capital contributions payable                                                                                                                                                               | 18,554                        | 18,554                  
|                                                                                                                                                                                            | 1,866,951                     | 1,680,491               
|                                                                                                                                                                                            |                               |                         
|PARTNERS CAPITAL                                                                                                                                                                            |                               |                         
|                                                                                                                                                                                            |                               |                         
|Limited Partners 
  
   Units of limited partnership    
   Interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   3,616,200 issued and outstanding,
   as of March 31, 2000 | 14,489,874                    | 15,921,798              
|General Partner                                                                                                                                                                             | (166,999)                     | (152,535)               
|                                                                                                                                                                                            | 14,322,875                    | 15,769,263              
|                                                                                                                                                                                            | $16,189,826                   | $17,449,754             

The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.

BALANCE SHEETSSeries 19





|                                                                                                                                                                                            | December 31,
2000
(Unaudited) | March 31,
2000
(Audited)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------- | ------------------------
|ASSETS                                                                                                                                                                                      |                               |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS (NOTE D)                                                                                                                                           | $20,802,762                   | $ 21,836,292            
|                                                                                                                                                                                            |                               |                         
|OTHER ASSETS                                                                                                                                                                                |                               |                         
|Cash and cash equivalents                                                                                                                                                                   | 354,757                       | 357,052                 
|Investments                                                                                                                                                                                 | 527,970                       | 648,321                 
|Notes receivable                                                                                                                                                                            | -                             | -                       
|Deferred acquisition costs, 
   net of accumulated amortization
   (Note B)                                                                                                                 | 316,897                       | 327,825                 
|Other assets                                                                                                                                                                                | 26,441                        | 14,640                  
|                                                                                                                                                                                            | $22,028,827                   | $23,184,130             
|                                                                                                                                                                                            |                               |                         
|LIABILITIES                                                                                                                                                                                 |                               |                         
|                                                                                                                                                                                            |                               |                         
|Accounts payable & accrued expenses
   (Note C)                                                                                                                                             | $     3,408                   | $      3,408            
|Accounts payable affiliates                                                                                                                                                                 | 1,081,433                     | 872,925                 
|Capital contributions payable                                                                                                                                                               | 24,000                        | 34,000                  
|                                                                                                                                                                                            | 1,108,841                     | 910,333                 
|                                                                                                                                                                                            |                               |                         
|PARTNERS CAPITAL                                                                                                                                                                            |                               |                         
|                                                                                                                                                                                            |                               |                         
|Limited Partners 
  
   Units of limited partnership    
   Interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   4,080,000 issued and outstanding,
   as of March 31, 2000 | 21,061,260                    | 22,401,533              
|General Partner                                                                                                                                                                             | (141,274)                     | (127,736)               
|                                                                                                                                                                                            | 20,919,986                    | 22,273,797              
|                                                                                                                                                                                            | $22,028,827                   | $23,184,130             

The accompanying notes are an integral part of this statement











Boston Capital Tax Credit Fund III L.P.STATEMENTS OF OPERATIONS

Three Months Ended December 31,
(Unaudited)





|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     34,550 | $     42,383
|Other income                                         | 26,100       | 13,040      
|                                                     | 60,650       | 55,423      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (2,440,671)  | (2,488,170) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 8,286        | 21,357      
|Fund management fee (Note C)                         | 633,491      | 578,028     
|Amortization                                         | 17,224       | 17,224      
|General and administrative expenses                  | 22,077       | 41,721      
|                                                     | 681,078      | 658,330     
|                                                     |              |             
|NET LOSS                                             | $(3,061,099) | $(3,091,077)
|                                                     |              |             
|Net loss allocated to limited partners               | $(3,030,488) | $(3,060,166)
|                                                     |              |             
|Net loss allocated general partner                   | $(30,611)    | $(30,911)   
|                                                     |              |             
|Net loss per BAC                                     | $(.68)       | $(.66)      
|                                                     |              |             





The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 15



|                                                     | 2000        | 1999       
|---------------------------------------------------- | ----------- | -----------
|                                                     |             |            
|Income                                               |             |            
|Interest income                                      | $     5,019 | $     7,381
|Other income                                         | 5,400       | -          
|                                                     | 10,419      | 7,381      
|                                                     |             |            
|Share of loss from Operating 
  Partnerships(Note D) | (456,267)   | (453,642)  
|                                                     |             |            
|Expenses                                             |             |            
|Professional fees                                    | 2,588       | 283        
|Fund management fee                                  | 130,180     | 118,637    
|Amortization                                         | 2,628       | 2,628      
|General and administrative expenses                  | 3,566       | 8,061      
|                                                     | 138,962     | 129,609    
|                                                     |             |            
|NET LOSS                                             | $(584,810)  | $(575,870) 
|                                                     |             |            
|Net loss allocated to limited partners               | $(578,962)  | $(570,111) 
|                                                     |             |            
|Net loss allocated general partner                   | $(5,848)    | $(5,759)   
|                                                     |             |            
|Net loss per BAC                                     | $(.15)      | $(.14)     
|                                                     |             |            





The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended December 31,    
(Unaudited)

Series 16



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     11,225 | $     11,149
|Other income                                         | 4,950        | 7,790       
|                                                     | 16,175       | 18,939      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (797,318)    | (769,098)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 832          | 283         
|Fund management fee                                  | 172,092      | 154,922     
|Amortization                                         | 4,213        | 4,213       
|General and administrative expenses                  | 6,080        | 10,768      
|                                                     | 183,217      | 170,186     
|                                                     |              |             
|NET LOSS                                             | $(964,360)   | $(920,345)  
|                                                     |              |             
|Net loss allocated to limited partners               | $(954,716)   | $(911,142)  
|                                                     |              |             
|Net loss allocated general partner                   | $(9,644)     | $(9,203)    
|                                                     |              |             
|Net loss per BAC                                     | $(.18)       | $(.16)      
|                                                     |              |             











The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended December 31,    
(Unaudited)Series 17



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $      3,118 | $      3,045
|Other income                                         | 9,900        | 300         
|                                                     | 13,018       | 3,345       
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (419,157)    | (513,121)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 1,966        | 1,432       
|Fund management fee                                  | 135,282      | 138,451     
|Amortization                                         | 3,887        | 3,887       
|General and administrative expenses                  | 4,053        | 9,153       
|                                                     | 145,188      | 152,923     
|                                                     |              |             
|NET LOSS                                             | $(551,327)   | $(662,699)  
|                                                     |              |             
|Net loss allocated to limited partners               | $(545,814)   | $(656,072)  
|                                                     |              |             
|Net loss allocated general partner                   | $(5,513)     | $(6,627)    
|                                                     |              |             
|Net loss per BAC                                     | $(.11)       | $(.13)      
|                                                     |              |             







The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended December 31,    
(Unaudited)Series 18





|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest Income                                      | $      3,541 | $      6,589
|                                                     | 2,250        | -           
|                                                     | 5,791        | 6,589       
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (406,221)    | (375,912)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 1,315        | 4,376       
|Fund management fee                                  | 93,100       | 86,189      
|Amortization                                         | 2,853        | 2,853       
|General and administrative expenses                  | 3,935        | 6,419       
|                                                     | 101,203      | 99,837      
|                                                     |              |             
|NET LOSS                                             | $(501,633)   | $(469,160)  
|                                                     |              |             
|Net loss allocated to limited partners               | $(496,617)   | $(464,468)  
|                                                     |              |             
|Net loss allocated general partner                   | $(5,016)     | $(4,692)    
|                                                     |              |             
|Net loss per BAC                                     | $(.14)       | $(.12)      
|                                                     |              |             







The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended December 31,       
(Unaudited)Series 19



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     11,647 | $     14,219
|Other income                                         | 3,600        | 4,950       
|                                                     | 15,247       | 19,169      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (361,708)    | (376,397)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 1,585        | 14,983      
|Fund management fee                                  | 102,837      | 79,829      
|Amortization                                         | 3,643        | 3,643       
|General and administrative expenses                  | 4,443        | 7,320       
|                                                     | 112,508      | 105,775     
|                                                     |              |             
|NET LOSS                                             | $(458,969)   | $(463,003)  
|                                                     |              |             
|Net loss allocated to limited partners               | $(454,379)   | $(458,373)  
|                                                     |              |             
|Net loss allocated general partner                   | $(4,590)     | $(4,630)    
|                                                     |              |             
|Net loss per BAC                                     | $(.11)       | $(.11)      
|                                                     |              |             

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONSNine Months Ended December 31,       
(Unaudited)



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     99,942 | $    136,270
|Other income                                         | 27,099       | 36,156      
|                                                     | 127,041      | 172,426     
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (7,054,673)  | (8,033,909) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 137,097      | 185,093     
|Fund management fee (Note C)                         | 1,810,856    | 1,747,980   
|Amortization                                         | 51,672       | 51,842      
|General and administrative expenses                  | 100,303      | 134,881     
|                                                     | 2,099,928    | 2,119,796   
|                                                     |              |             
|NET LOSS                                             | $(9,027,560) | $(9,981,279)
|                                                     |              |             
|Net loss allocated to limited partners               | $(8,937,284) | $(9,881,466)
|                                                     |              |             
|Net loss allocated general partner                   | $(90,276)    | $(99,813)   
|                                                     |              |             
|Net loss per BAC                                     | $(2.01)      | $(2.19)     
|                                                     |              |             





The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Nine Months Ended December 31,       
(Unaudited)Series 15



|                                                     | 2000          | 1999        
|---------------------------------------------------- | ------------- | ------------
|                                                     |               |             
|Income                                               |               |             
|Interest income                                      | $      14,194 | $     27,221
|Other income                                         | 5,409         | -           
|                                                     | 19,603        | 27,221      
|                                                     |               |             
|Share of loss from Operating 
  Partnerships(Note D) | (1,298,870)   | (1,358,664) 
|                                                     |               |             
|Expenses                                             |               |             
|Professional fees                                    | 32,818        | 42,000      
|Fund management fee                                  | 372,034       | 354,111     
|Amortization                                         | 7,884         | 7,884       
|General and administrative expenses                  | 18,751        | 26,225      
|                                                     | 431,487       | 430,220     
|                                                     |               |             
|NET LOSS                                             | $(1,710,754)  | $(1,761,663)
|                                                     |               |             
|Net loss allocated to limited partners               | $(1,693,646)  | $(1,744,046)
|                                                     |               |             
|Net loss allocated general partner                   | $(17,108)     | $(17,617)   
|                                                     |               |             
|Net loss per BAC                                     | $(.44)        | $(.44)      
|                                                     |               |             

The accompanying notes are an integral part of this statement











Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Nine Months Ended September 30,       
(Unaudited)Series 16



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     32,365 | $     35,892
|Other income                                         | 5,386        | 8,090       
|                                                     | 37,751       | 43,982      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (2,290,665)  | (2,527,697) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 32,615       | 42,413      
|Fund management fee                                  | 494,881      | 470,299     
|Amortization                                         | 12,638       | 12,638      
|General and administrative expenses                  | 24,943       | 34,048      
|                                                     | 565,077      | 559,398     
|                                                     |              |             
|NET LOSS                                             | $(2,817,991) | $(3,043,113)
|                                                     |              |             
|Net loss allocated to limited partners               | $(2,789,811) | $(3,012,682)
|                                                     |              |             
|Net loss allocated general partner                   | $(28,180)    | $(30,431)   
|                                                     |              |             
|Net loss per BAC                                     | $(.51)       | $(.56)      
|                                                     |              |             

The accompanying notes are an integral part of this statement











Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Nine Months Ended December 31,       
(Unaudited)Series 17



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $      9,363 | $     10,964
|Other income                                         | 10,454       | 12,300      
|                                                     | 19,817       | 23,264      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (1,277,121)  | (1,743,841) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 26,412       | 34,363      
|Fund management fee                                  | 380,605      | 396,884     
|Amortization                                         | 11,662       | 11,662      
|General and administrative expenses                  | 22,633       | 30,823      
|                                                     | 441,312      | 473,732     
|                                                     |              |             
|NET LOSS                                             | $(1,698,616) | $(2,194,309)
|                                                     |              |             
|Net loss allocated to limited partners               | $(1,681,630) | $(2,172,366)
|                                                     |              |             
|Net loss allocated general partner                   | $(16,986)    | $(21,943)   
|                                                     |              |             
|Net loss per BAC                                     | $(.34)       | $(.44)      
|                                                     |              |             

The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Nine Months Ended December 31,       
(Unaudited)Series 18



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     10,248 | $     15,626
|Other income                                         | 2,250        | -           
|                                                     | 12,498       | 15,626      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (1,154,565)  | (1,191,132) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 21,296       | 30,619      
|Fund management fee                                  | 258,503      | 247,133     
|Amortization                                         | 8,560        | 8,560       
|General and administrative expenses                  | 15,962       | 20,638      
|                                                     | 304,321      | 306,950     
|                                                     |              |             
|NET LOSS                                             | $(1,446,388) | $(1,482,456)
|                                                     |              |             
|Net loss allocated to limited partners               | $(1,431,924) | $(1,467,631)
|                                                     |              |             
|Net loss allocated general partner                   | $(14,464)    | $(14,825)   
|                                                     |              |             
|Net loss per BAC                                     | $(.40)       | $(.39)      
|                                                     |              |             

The accompanying notes are an integral part of this statement











Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Nine Months Ended December 31,       
(Unaudited)Series 19



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     33,772 | $     46,567
|Other income                                         | 3,600        | 15,766      
|                                                     | 37,372       | 62,333      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (1,033,452)  | (1,212,575) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 23,956       | 35,698      
|Fund management fee                                  | 304,833      | 279,553     
|Amortization                                         | 10,928       | 11,098      
|General and administrative expenses                  | 18,014       | 23,147      
|                                                     | 357,731      | 349,496     
|                                                     |              |             
|NET LOSS                                             | $(1,353,811) | $(1,499,738)
|                                                     |              |             
|Net loss allocated to limited partners               | $(1,340,273) | $(1,484,741)
|                                                     |              |             
|Net loss allocated general partner                   | $(13,538)    | $(14,997)   
|                                                     |              |             
|Net loss per BAC                                     | $(.33)       | $(.36)      
|                                                     |              |             

The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.STATEMENTS OF CHANGES IN PARTNERS CAPITALNine Months Ended December 31,
(Unaudited)



|                                                  | Assignees    | General
Partner | Total       
|------------------------------------------------- | ------------ | --------------- | ------------
|                                                  |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000      | $ 91,687,950 | $  (982,608)    | $ 90,705,342
|                                                  |              |                 |             
|                                                  |              |                 |             
|Net income (loss)                                 | (8,937,284)  | (90,276)        | (9,027,560) 
|                                                  |              |                 |             
|Partners capital 
 (deficit),
  December 31, 2000 | $82,750,666  | $(1,072,884)    | $81,677,782 
|                                                  |              |                 |             

The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Nine Months Ended December 31,    
(Unaudited)



|                                                 | Assignees    | General
Partner | Total       
|------------------------------------------------ | ------------ | --------------- | ------------
|Series 15                                        |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000     | $ 10,327,926 | $  (231,709)    | $ 10,096,217
|                                                 |              |                 |             
|                                                 |              |                 |             
|Net income (loss)                                | (1,693,646)  | (17,108)        | (1,710,754) 
|                                                 |              |                 |             
|Partners capital 
 (deficit)
  December 31, 2000 | $8,634,280   | $(248,817)      | $8,385,463  
|                                                 |              |                 |             
|                                                 |              |                 |             
|Series 16                                        |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000     | $ 22,390,069 | $  (245,160)    | $ 22,144,909
|                                                 |              |                 |             
|                                                 |              |                 |             
|Net income (loss)                                | (2,789,811)  | (28,180)        | (2,817,991) 
|                                                 |              |                 |             
|Partners capital 
 (deficit)
  December 31, 2000 | $19,600,258  | $(273,340)      | $19,326,918 
|                                                 |              |                 |             

The accompanying notes are an integral part of these statements.









Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Nine Months Ended December 31,     
(Unaudited)



|                                                  | Assignees    | General
Partner | Total       
|------------------------------------------------- | ------------ | --------------- | ------------
|Series 17                                         |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000      | $ 20,646,624 | $  (225,468)    | $ 20,421,156
|                                                  |              |                 |             
|                                                  |              |                 |             
|Net income (loss)                                 | (1,681,630)  | (16,986)        | (1,698,616) 
|                                                  |              |                 |             
|Partners capital 
 (deficit)
  December 31, 2000  | $18,964,994  | $(242,454)      | $18,722,540 
|                                                  |              |                 |             
|                                                  |              |                 |             
|Series 18                                         |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000      | $ 15,921,798 | $  (152,535)    | $ 15,769,263
|                                                  |              |                 |             
|                                                  |              |                 |             
|Net income (loss)                                 | (1,431,924)  | (14,464)        | (1,446,388) 
|                                                  |              |                 |             
|Partners capital 
 (deficit),
  December 31, 2000 | $14,489,874  | $(166,999)      | $14,322,875 
|                                                  |              |                 |             

The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Nine Months Ended December 31,
(Unaudited)



|                                                  | Assignees    | General
Partner | Total       
|------------------------------------------------- | ------------ | --------------- | ------------
|Series 19                                         |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000      | $ 22,401,533 | $  (127,736)    | $ 22,273,797
|                                                  |              |                 |             
|                                                  |              |                 |             
|Net income (loss)                                 | (1,340,273)  | (13,538)        | (1,353,811) 
|                                                  |              |                 |             
|Partners capital 
 (deficit),
  December 31, 2000 | $21,061,260  | $(141,274)      | $20,919,986 
|                                                  |              |                 |             

The accompanying notes are an integral part of this statement











Boston Capital Tax Credit Fund III L.P.STATEMENTS OF CASH FLOWSNine Months Ended December 31,
(Unaudited)



|                                                                     | 2000         | 1999        
|-------------------------------------------------------------------- | ------------ | ------------
|Cash Flows from operating activities:                                |              |             
|                                                                     |              |             
|Net Loss                                                             | $(9,027,560) | $(9,981,279)
|Adjustments                                                          |              |             
|Distributions from Operating
        Partnerships                    | 21,776       | 40,155      
|Amortization                                                         | 51,672       | 51,842      
|Share of Loss from Operating
        Partnerships                    | 7,054,673    | 8,033,909   
|Changes in assets and liabilities                                    |              |             
|(Decrease) Increase in accounts
        payable and accrued expenses | -            | -           
|Decrease (Increase) in accounts
        Receivable                   | (121,717)    | (394,551)   
|Decrease (Increase) in accounts
        Payable affiliates           | 1,713,387    | 2,343,883   
|                                                                     |              |             
|Net cash (used in) provided by 
        Operating activities         | (307,769)    | 93,959      
|                                                                     |              |             
|                                                                     |              |             
|Cash Flows from investing activities:                                |              |             
|                                                                     |              |             
|Capital contributions paid to 
     Operating Partnerships           | (31,500)     | (2,500)     
|Advances in Operating Partnerships                                   | 54,340       | -           
|Investments                                                          | 88,122       | 726,282     
|                                                                     |              |             
|Net cash (used in) provided by
     investing activities             | 110,962      | 723,782     

The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)



|                                                           | 2000       | 1999      
|---------------------------------------------------------- | ---------- | ----------
|                                                           |            |           
|Continued                                                  |            |           
|                                                           |            |           
|Cash flows from financing activity:                        |            |           
|                                                           |            |           
|Credit adjusters received from
     Operating Partnerships | -          | -         
|                                                           |            |           
|Net cash (used in)provided by
        financing activity   | -          | -         
|                                                           |            |           
|                                                           |            |           
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | (196,807)  | 817,741   
|                                                           |            |           
|Cash and cash equivalents, beginning                       | 1,754,063  | 1,693,799 
|                                                           |            |           
|Cash and cash equivalents, ending                          | $1,557,256 | $2,511,540
|                                                           |            |           

The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)Series 15



|                                                                     | 2000         | 1999         
|-------------------------------------------------------------------- | ------------ | -------------
|Cash Flows from operating activities:                                |              |              
|                                                                     |              |              
|Net Loss                                                             | $(1,710,754) | $ (1,761,663)
|Adjustments                                                          |              |              
|Distributions from Operating
        Partnerships                    | 12           | 882          
|Amortization                                                         | 7,884        | 7,884        
|Share of Loss from Operating
        Partnerships                    | 1,298,870    | 1,358,664    
|Changes in assets and liabilities                                    |              |              
|(Decrease) Increase in accounts
        payable and accrued expenses | -            | -            
|Decrease (Increase) in accounts
        Receivable                   | 1,084        | (45,430)     
|Decrease (Increase) in accounts
        payable affiliates           | 411,038      | 441,616      
|                                                                     |              |              
|Net cash (used in) provided by 
        operating activities         | 8,134        | 1,953        
|                                                                     |              |              
|                                                                     |              |              
|Cash Flows from investing activities:                                |              |              
|                                                                     |              |              
|Capital contributions paid to 
     Operating Partnerships           | -            | -            
|Advances in Operating Partnerships                                   | 32,170       | -            
|Investments                                                          | (6,771)      | (7,139)      
|                                                                     |              |              
|Net cash (used in) provided by
     investing activities             | 25,399       | (7,139)      

The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31, 
(Unaudited)Series 15



|                                                           | 2000     | 1999    
|---------------------------------------------------------- | -------- | --------
|                                                           |          |         
|Continued                                                  |          |         
|                                                           |          |         
|Cash flows from financing activity:                        |          |         
|                                                           |          |         
|Credit adjusters received from
     Operating Partnerships | -        | -       
|                                                           |          |         
|Net cash (used in)provided by
        financing activity   | -        | -       
|                                                           |          |         
|                                                           |          |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | 33,533   | (5,186) 
|                                                           |          |         
|Cash and cash equivalents, beginning                       | 308,497  | 306,884 
|                                                           |          |         
|Cash and cash equivalents, ending                          | $342,030 | $301,698
|                                                           |          |         

The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)Series 16



|                                                                     | 2000         | 1999        
|-------------------------------------------------------------------- | ------------ | ------------
|Cash Flows from operating activities:                                |              |             
|                                                                     |              |             
|Net Loss                                                             | $(2,817,991) | $(3,043,113)
|Adjustments                                                          |              |             
|Distributions from Operating
        Partnerships                    | 4,830        | 1,229       
|Amortization                                                         | 12,638       | 12,638      
|Share of Loss from Operating
        Partnerships                    | 2,290,665    | 2,527,697   
|Changes in assets and liabilities                                    |              |             
|(Decrease) Increase in accounts
        payable and accrued expenses | -            | -           
|Decrease (Increase) in accounts
        Receivable                   | (6,559)      | (1,897)     
|Decrease (Increase) in accounts
        payable affiliates           | 418,984      | 518,985     
|                                                                     |              |             
|Net cash (used in) provided by
        operating activities          | (97,433)     | 15,539      
|                                                                     |              |             
|                                                                     |              |             
|Cash Flows from investing activities:                                |              |             
|                                                                     |              |             
|Capital contributions paid to 
     Operating Partnerships           | (1,500)      | (2,500)     
|Advances in Operating Partnerships                                   | -            | -           
|Investments                                                          | (20,405)     | 244,361     
|                                                                     |              |             
|Net cash (used in) provided by
     investing activities             | (21,905)     | 241,861     

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)Series 16



|                                                           | 2000      | 1999    
|---------------------------------------------------------- | --------- | --------
|                                                           |           |         
|Continued                                                  |           |         
|                                                           |           |         
|Cash flows from financing activity:                        |           |         
|                                                           |           |         
|Credit adjusters received from
     Operating Partnerships | -         | -       
|                                                           |           |         
|Net cash (used in)provided by
        financing activity   | -         | -       
|                                                           |           |         
|                                                           |           |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | (119,338) | 257,400 
|                                                           |           |         
|Cash and cash equivalents, beginning                       | 307,415   | 213,451 
|                                                           |           |         
|Cash and cash equivalents, ending                          | $188,077  | $470,851
|                                                           |           |         



The accompanying notes are an integral part of this statement











Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)Series 17



|                                                                     | 2000           | 1999        
|-------------------------------------------------------------------- | -------------- | ------------
|Cash Flows from operating activities:                                |                |             
|                                                                     |                |             
|Net Loss                                                             | $  (1,698,616) | $(2,194,309)
|Adjustments                                                          |                |             
|Distributions from Operating
        Partnerships                    | 1,202          | 4,140       
|Amortization                                                         | 11,662         | 11,662      
|Share of Loss from Operating
        Partnerships                    | 1,277,121      | 1,743,841   
|Changes in assets and liabilities                                    |                |             
|(Decrease) Increase in accounts
        payable and accrued expenses | -              | -           
|(Decrease) Increase in accounts
        receivable                   | (75,139)       | (356,977)   
|Decrease (Increase) in accounts
        payable affiliates           | 488,397        | 788,308     
|                                                                     |                |             
|Net cash (used in) provided by 
        operating activities         | 4,627          | (3,335)     
|                                                                     |                |             
|                                                                     |                |             
|Cash Flows from investing activities:                                |                |             
|                                                                     |                |             
|Capital contributions paid to 
     Operating Partnerships           | (20,000)       | -           
|Advances in Operating Partnerships                                   | 22,170         | -           
|Investments                                                          | -              | 100,000     
|                                                                     |                |             
|Net cash (used in) provided by
     Investing activities             | 2,170          | 100,000     

The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)Series 17



|                                                           | 2000     | 1999    
|---------------------------------------------------------- | -------- | --------
|                                                           |          |         
|Continued                                                  |          |         
|                                                           |          |         
|Cash flows from financing activity:                        |          |         
|                                                           |          |         
|Credit adjusters received from
     Operating Partnerships | -        | -       
|                                                           |          |         
|Net cash (used in)provided by
        financing activity   | -        | -       
|                                                           |          |         
|                                                           |          |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | 6,797    | 96,665  
|                                                           |          |         
|Cash and cash equivalents, beginning                       | 404,005  | 349,189 
|                                                           |          |         
|Cash and cash equivalents, ending                          | $410,802 | $445,854
|                                                           |          |         

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)Series 18



|                                                                     | 2000          | 1999        
|-------------------------------------------------------------------- | ------------- | ------------
|Cash Flows from operating activities:                                |               |             
|                                                                     |               |             
|Net Loss                                                             | $ (1,446,388) | $(1,482,456)
|Adjustments                                                          |               |             
|Distributions from Operating
        Partnerships                    | 15,654        | 2,466       
|Amortization                                                         | 8,560         | 8,560       
|Share of Loss from Operating
        Partnerships                    | 1,154,565     | 1,191,132   
|Changes in assets and liabilities                                    |               |             
|(Decrease) Increase in accounts
        payable and accrued expenses | -             | -           
|Decrease (Increase) in accounts
        Receivable                   | (29,302)      | (4,637)     
|Decrease (Increase) in accounts
        payable affiliates           | 186,460       | 286,462     
|                                                                     |               |             
|Net cash (used in) provided by 
        operating activities         | (110,451)     | 1,527       
|                                                                     |               |             
|                                                                     |               |             
|Cash Flows from investing activities:                                |               |             
|                                                                     |               |             
|Capital contributions paid to 
     Operating Partnerships           | -             | -           
|Advances in Operating Partnerships                                   | -             | -           
|Investments                                                          | (5,053)       | 127,760     
|                                                                     |               |             
|Net cash (used in) provided by
     investing activities             | (5,053)       | 127,760     



The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)Series 18





|                                                           | 2000      | 1999    
|---------------------------------------------------------- | --------- | --------
|                                                           |           |         
|Continued                                                  |           |         
|                                                           |           |         
|Cash flows from financing activity:                        |           |         
|                                                           |           |         
|Credit adjusters received from
     Operating Partnerships | -         | -       
|                                                           |           |         
|Net cash (used in)provided by
        financing activity   | -         | -       
|                                                           |           |         
|                                                           |           |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | (115,504) | 129,287 
|                                                           |           |         
|Cash and cash equivalents, beginning                       | 377,094   | 306,065 
|                                                           |           |         
|Cash and cash equivalents, ending                          | $261,590  | $435,352
|                                                           |           |         



The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)Series 19



|                                                                     | 2000          | 1999        
|-------------------------------------------------------------------- | ------------- | ------------
|Cash Flows from operating activities:                                |               |             
|                                                                     |               |             
|Net Loss                                                             | $ (1,353,811) | $(1,499,738)
|Adjustments                                                          |               |             
|Distributions from Operating
        Partnerships                    | 78            | 31,438      
|Amortization                                                         | 10,928        | 11,098      
|Share of Loss from Operating
        Partnerships                    | 1,033,452     | 1,212,575   
|Changes in assets and liabilities                                    |               |             
|(Decrease) Increase in accounts
        payable and accrued expenses | -             | -           
|(Decrease) Increase in accounts
        receivable/ other assets     | (11,801)      | 14,390      
|Decrease (Increase) in accounts
        payable affiliates           | 208,508       | 308,512     
|                                                                     |               |             
|Net cash (used in) provided by 
        operating activities         | (112,646)     | 78,275      
|                                                                     |               |             
|                                                                     |               |             
|Cash Flows from investing activities:                                |               |             
|                                                                     |               |             
|Capital contributions paid to 
     Operating Partnerships           | (10,000)      | -           
|Advances in Operating Partnerships                                   | -             | -           
|Investments                                                          | 120,351       | 261,300     
|                                                                     |               |             
|Net cash (used in) provided by
     investing activities             | 110,351       | 261,300     



The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Nine Months Ended December 31,
(Unaudited)Series 19

|                                                           | 2000     | 1999    
|---------------------------------------------------------- | -------- | --------
|                                                           |          |         
|Continued                                                  |          |         
|                                                           |          |         
|Cash flows from financing activity:                        |          |         
|                                                           |          |         
|Credit adjusters received from
     Operating Partnerships | -        | -       
|                                                           |          |         
|Net cash (used in)provided by
        financing activity   | -        | -       
|                                                           |          |         
|                                                           |          |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | (2,295)  | 339,575 
|                                                           |          |         
|Cash and cash equivalents, beginning                       | 357,052  | 518,210 
|                                                           |          |         
|Cash and cash equivalents, ending                          | $354,757 | $857,785
|                                                           |          |         



The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTSDecember 31, 2000

(Unaudited)



NOTE A - ORGANIZATIONBoston Capital Tax Credit Fund III L.P. (the "Fund") was formed under the laws of the State of Delaware as of September 19, 1991 for the purpose of
acquiring, holding, and disposing of limited partnership interests in
Operating Partnerships which will acquire, develop, rehabilitate, operate and
own newly constructed, existing or rehabilitated low-income apartment
complexes ("Operating Partnerships"). The general partner of the Fund is
Boston Capital Associates III L.P., a Delaware limited partnership.  Boston
Capital Associates, a Massachusetts general partnership, whose only two
partners are Herbert F. Collins and John P. Manning, the principals of Boston
Capital Partners, Inc., is the sole general partner of the general partner. 
The limited partner of the general partner is Capital Investment Holdings, a
general partnership whose partners are certain officers and employees of
Boston Capital Partners, Inc., and its affiliates.  The Assignor Limited
Partner is BCTC III Assignor Corp., a Delaware corporation which is
wholly-owned by Herbert F. Collins and John P. Manning.
Pursuant to the Securities Act of 1933, the Fund filed a Form S-11
Registration Statement with the Securities and Exchange Commission, effective
January 24, 1992 which covered the offering (the "Public Offering") of the
Fund's beneficial assignee certificates ("BACs") representing assignments of
units of the beneficial interest of the limited partnership interest of the
Assignor Limited Partner.  The Fund registered 20,000,000 BACs at $10 per BAC
for sale to the public in one or more series.  On September 4, 1993 the Fund
filed an amendment to Form S-11 with the Securities and Exchange Commission
which registered an additional 2,000,000 BACs at $10 per BAC for sale to the
public in one or more series. The registration for the additional BACs became
effective on October 6, 1993. Offers and sales of BACs in Series 15 through 19
of the Fund were completed and the last of the BACs in Series 15, 16, 17, 18
and 19 were issued by the Fund on June 26, 1992, December 28, 1992, June 17,
1993, September 22, 1993, and December 17, 1993, respectively.  The Fund sold
3,870,500 of Series 15 BACs, for a total of $38,705,000; 5,429,402 of Series
16 BACs, for a total of $54,293,000; 5,000,000 of Series 17 BACs, for a total
of $50,000,000; 3,616,200 of Series 18 BACs, for a total of $36,162,000; and
4,080,000 of Series 19 BACs, for a total of $40,800,000.  The Fund issued the
last BACs in Series 19 on December 17, 1993.  This concluded the Public
offering of the Fund.







Boston Capital Tax Credit Fund III L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2000
(Unaudited)

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements included herein as of December 31, 2000 and for the nine months then ended have been prepared by the Fund, without
audit.  The Fund accounts for its investments in Operating Partnerships using
the equity method, whereby the Fund adjusts its investment cost for its share
of each Operating Partnership's results of operations and for any
distributions received or accrued.  Costs incurred by the Fund in acquiring
the investments in the Operating Partnerships are capitalized to the
investment account.  The Fund's accounting and financial reporting policies
are in conformity with generally accepted accounting principles and include
adjustments in  interim periods considered necessary for a fair presentation
of the results of operations.  Such adjustments are of a normal recurring
nature.

Investment

The Fund has included in investments Certificates of Deposit with original
materities of one year or less.  These investments are carried at costs.











Boston Capital Tax Credit Fund III L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2000
(Unaudited)

NOTE - B ACCOUNTING AND FINANCIAL REPORTING POLICIES - CONTINUED

Amortized cost is the face value of the securities and any unamortized premium
or discount.  The balance sheet reflects the fair market value under
investments.

Amortization

On July 1, 1995, the Fund began amortizing unallocated acquisition
costs over 330 months from April 1, 1995. As of December 31, 2000 the Fund has accumulated unallocated acquisition amortization totaling $401,661.  The
breakdown of accumulated unallocated acquisition amortization within the fund
as of December 31, 2000 and 1999 is as follows:



|          | 2000     | 1999    
|--------- | -------- | --------
|          |          |         
|Series 15 | $ 60,542 | $ 50,030
|Series 16 | 96,896   | 80,046  
|Series 17 | 97,315   | 81,765  
|Series 18 | 65,757   | 54,344  
|Series 19 | 81,151   | 66,581  
|          | $401,661 | $332,766



NOTE C - RELATED PARTY TRANSACTIONS

The Fund has entered into several transactions with various affiliates
of the general partner, including Boston Capital Partners, Inc., and Boston
Capital Asset Management Limited Partnership as follows:

Boston Capital Partners, Inc. is entitled to asset acquisition fees for
selecting, evaluating, structuring, negotiating, and closing the Funds
acquisition of interests in the Operating Partnerships.   Prior to the quarter
ended December 31, 2000 all series had completed payment of all acquisition fees due to Boston Capital Partners, Inc.



NOTE C - RELATED PARTY TRANSACTIONS - CONTINUED

An annual fund management fee based on .5 percent of the aggregate cost
of all apartment complexes owned by the Operating Partnerships, has been
accrued to Boston Capital Asset Management Limited Partnership.  The fund
management fees accrued for the quarter ended December 31, 2000 and 1999 are as follows:



|          | 2000     | 1999    
|--------- | -------- | --------
|          |          |         
|Series 15 | $137,013 | $137,013
|Series 16 | 172,995  | 172,995 
|Series 17 | 140,925  | 141,342 
|Series 18 | 95,487   | 95,487  
|Series 19 | 102,837  | 102,837 
|          | $649,257 | $649,674

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At December 31, 2000 and 1999, the Fund had limited partnership interests in 241 Operating Partnerships which own or are constructing apartment complexes.  The breakdown of Operating Partnerships within the Fund at December 31, 2000 and
1999 is as follows:





|          |    
|--------- | ---
|Series 15 | 68 
|Series 16 | 64 
|Series 17 | 49 
|Series 18 | 34 
|Series 19 | 26 
|          | 241



















Boston Capital Tax Credit Fund III L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
December 31, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - CONTINUED

Under the terms of the Fund's investment in each Operating Partnership,
the Fund is required to make capital contributions to the Operating
Partnerships.  These contributions are payable in installments over several
years upon each Operating Partnership achieving specified levels of
construction and/or operations.  The contributions payable at December 31, 2000 and 1999 are as follows:



|          | 2000       | 1999      
|--------- | ---------- | ----------
|          |            |           
|Series 15 | $   32,922 | $   32,922
|Series 16 | 138,506    | 140,006   
|Series 17 | 1,186,768  | 1,367,195 
|Series 18 | 18,554     | 18,554    
|Series 19 | 24,000     | 34,000    
|          | $1,400,750 | $1,592,677



The Funds fiscal year ends March 31st of each year, while all the Operating
Partnerships' fiscal years are the calendar year.  Pursuant to the provisions
of each Operating Partnership Agreement, financial results for each of the
Operating Partnerships are provided to the Fund within 45 days after the close
of each Operating Partnerships quarterly period.  Accordingly, the current
financial results available for the Operating Partnerships are for the nine
months ended September 30, 2000.





Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
December 31, 2000
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months ended September 30, 
(Unaudited)

Series 15



|                                                                        | 2000         | 1999        
|----------------------------------------------------------------------- | ------------ | ------------
|                                                                        |              |             
|Revenues                                                                |              |             
|Rental                                                                  | $  7,474,844 | $  7,302,945
|Interest and other                                                      | 280,934      | 258,165     
|                                                                        |              |             
|                                                                        | 7,755,778    | 7,561,110   
|                                                                        |              |             
|Expenses                                                                |              |             
|Interest                                                                | 2,102,708    | 2,060,724   
|Depreciation and amortization                                           | 2,695,399    | 2,843,706   
|Operating expenses                                                      | 4,850,228    | 4,519,367   
|                                                                        | 9,648,335    | 9,423,797   
|                                                                        |              |             
|NET LOSS                                                                | $(1,892,557) | $(1,862,687)
|                                                                        |              |             
|Net loss allocation to Boston  
   Capital Tax Credit Fund 
   III L.P. | $(1,298,870) | $(1,358,664)
|                                                                        |              |             
|                                                                        |              |             
|Net loss allocated to other 
   Partners                                | $(18,926)    | $(18,627)   
|                                                                        |              |             
|Net loss suspended                                                      | $(574,761)   | $(485,396)  









The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.





Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
December 31, 2000
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months ended September 30,
(Unaudited)

Series 16





|                                                                        | 2000         | 1999        
|----------------------------------------------------------------------- | ------------ | ------------
|                                                                        |              |             
|Revenues                                                                |              |             
|Rental                                                                  | $  9,976,395 | $  9,172,061
|Interest and other                                                      | 510,202      | 424,262     
|                                                                        |              |             
|                                                                        | 10,486,597   | 9,596,323   
|                                                                        |              |             
|Expenses                                                                |              |             
|Interest                                                                | 2,812,217    | 2,801,642   
|Depreciation and amortization                                           | 3,695,680    | 3,568,883   
|Operating expenses                                                      | 6,556,844    | 6,116,299   
|                                                                        | 13,064,741   | 12,486,824  
|                                                                        |              |             
|NET LOSS                                                                | $(2,578,144) | $(2,890,501)
|                                                                        |              |             
|Net loss allocation to Boston  
   Capital Tax Credit Fund 
   III L.P. | $(2,290,665) | $(2,527,697)
|                                                                        |              |             
|                                                                        |              |             
|Net loss allocated to other 
   Partners                                | $(25,781)    | $(28,905)   
|                                                                        |              |             
|Net loss suspended                                                      | $(261,698)   | $(333,899)  









The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.





Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
December 31, 2000
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months ended September 30,
(Unaudited)

Series 17



|                                                                        | 2000         | 1999        
|----------------------------------------------------------------------- | ------------ | ------------
|                                                                        |              |             
|Revenues                                                                |              |             
|Rental                                                                  | $  8,839,203 | $  8,193,157
|Interest and other                                                      | 336,380      | 355,221     
|                                                                        |              |             
|                                                                        | 9,175,583    | 8,548,378   
|                                                                        |              |             
|Expenses                                                                |              |             
|Interest                                                                | 2,759,122    | 2,720,696   
|Depreciation and amortization                                           | 2,798,661    | 2,831,561   
|Operating expenses                                                      | 5,067,389    | 4,757,578   
|                                                                        | 10,625,172   | 10,309,835  
|                                                                        |              |             
|NET LOSS                                                                | $(1,449,589) | $(1,761,457)
|                                                                        |              |             
|Net loss allocation to Boston  
   Capital Tax Credit Fund 
   III L.P. | $(1,277,121) | $(1,743,841)
|                                                                        |              |             
|                                                                        |              |             
|Net loss allocated to other 
   Partners                                | $(14,497)    | $(17,616)   
|                                                                        |              |             
|Net loss suspended                                                      | $(157,971)   | $-          









The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to offset excess income.





Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
December 31, 2000
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months ended September 30,
(Unaudited)

Series 18



|                                                                        | 2000         | 1999        
|----------------------------------------------------------------------- | ------------ | ------------
|                                                                        |              |             
|Revenues                                                                |              |             
|Rental                                                                  | $  4,986,525 | $  4,816,803
|Interest and other                                                      | 279,914      | 250,981     
|                                                                        |              |             
|                                                                        | 5,266,439    | 5,067,784   
|                                                                        |              |             
|Expenses                                                                |              |             
|Interest                                                                | 1,414,803    | 1,627,954   
|Depreciation and amortization                                           | 1,882,759    | 1,877,451   
|Operating expenses                                                      | 3,179,524    | 2,815,808   
|                                                                        | 6,477,086    | 6,321,213   
|                                                                        |              |             
|NET LOSS                                                                | $(1,210,647) | $(1,253,429)
|                                                                        |              |             
|Net loss allocation to Boston  
   Capital Tax Credit Fund 
   III L.P. | $(1,154,565) | $(1,191,132)
|                                                                        |              |             
|                                                                        |              |             
|Net loss allocated to other 
   Partners                                | $(12,106)    | $(12,534)   
|                                                                        |              |             
|Net loss suspended                                                      | $(43,976)    | $(49,763)   









The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.





Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
December 31, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months ended September 30,
(Unaudited)

Series 19

|                                                                   | 2000         | 1999        
|------------------------------------------------------------------ | ------------ | ------------
|                                                                   |              |             
|Revenues                                                           |              |             
|Rental                                                             | $  7,068,453 | $  6,821,870
|Interest and other                                                 | 209,817      | 257,471     
|                                                                   |              |             
|                                                                   | 7,278,270    | 7,079,341   
|                                                                   |              |             
|Expenses                                                           |              |             
|Interest                                                           | 2,414,328    | 2,497,461   
|Depreciation and amortization                                      | 2,207,371    | 2,158,694   
|Operating expenses                                                 | 3,722,378    | 3,648,009   
|                                                                   | 8,344,077    | 8,304,164   
|                                                                   |              |             
|NET LOSS                                                           | $(1,065,807) | $(1,224,823)
|                                                                   |              |             
|Net loss allocation to Boston
Capital Tax Credit Fund 
   III L.P. | $(1,033,452) | $(1,212,575)
|                                                                   |              |             
|                                                                   |              |             
|Net loss allocated to other 
   Partners                           | $(10,658)    | $(12,248)   
|                                                                   |              |             
|Net loss suspended                                                 | $(21,697)    | $-          









The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.





Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
December 31, 2000
(Unaudited)

NOTE E - TAXABLE LOSS
      The Fund's taxable loss for the year ended March 31, 2001 is expected to
differ from its loss for financial reporting purposes.  This is primarily due
to accounting differences in depreciation incurred by the Operating
Partnerships and also differences between the equity method of accounting and
the IRS accounting methods.  No provision or benefit for income taxes has been
included in these financial statements since taxable income or loss passes
through to, and is reportable by, the partners and assignees individually

Item 2.  Management's Discussions and Analysis of Financial Condition and
Results of Operations

Liquidity

The Funds primary source of funds is the proceeds of its Public
Offering.  Other sources of liquidity will include (i) interest earned on
capital contributions held pending investment and on Working Capital Reserves
and (ii) cash distributions from operations of the operating Partnerships in
which the Fund has and will invest.  Interest income is expected to decrease
over the life of the Fund as capital contributions are paid to the Operating
Partnerships and Working Capital Reserves are expended.    The Fund does not
anticipate significant cash distributions from operations of the Operating
Partnerships.

The Fund is currently accruing the fund management fee.  Fund management
fees accrued during the quarter ended December 31, 2000 were $649,257 and total fund management fees accrued as of December 31, 2000 were $13,848,767.  Pursuant to the Partnership Agreement, such liabilities will be deferred until the Fund receives sales
of refinancing proceeds from Operating Partnerships which will be used to satisfy such liabilities.  The Funds working capital and sources of liquidity coupled with affiliated party liability accruals allow sufficient levels of liquidity to meet
the third party obligations of the Fund.   The Fund is currently unaware of any trends which would create insufficient liquidity to meet future third party obligations of the Fund.

The Fund has recorded an additional $1,238,771 as payable to affiliates.  This represents fundings to make advances and/or loans to certain Operating
Partnerships in Series 15 and Series 17 of the Fund of $277,567, and $961,204 respectively.

Capital Resources

The Fund offered BACs in a Public Offering declared effective by the
Securities and Exchange Commission on January 24, 1992.  The Fund received
$38,705,000, $54,293,000, $50,000,000, $36,162,000 and $40,800,000
representing 3,870,500, 5,429,402, 5,000,000, 3,616,200 and 4,080,000 BACs
from investors admitted as BAC Holders in Series 15, Series 16, Series 17,
Series 18, and Series 19, respectively.  The Public Offering was completed on
December 17, 1993.

(Series 15)  The Fund commenced offering BACs in Series 15 on January 24,
1992.  Offers and sales of BACs in Series 15 were completed on June 26,
1992.  The Fund has committed proceeds to pay initial and additional
installments of capital contributions to 68 Operating Partnerships in the
amount of $28,257,701.

During the quarter ended December 31, 2000, none of Series 15 net offering proceeds had been used to pay capital contributions. Series 15 net offering proceeds in the amount of $32,922 remain to be used by the Fund to pay remaining capital
contributions to the Operating Partnerships that  Series 15 has invested in as of December 31, 2000.

(Series 16)  The Fund commenced offering BACs in Series 16 on July 13, 1992.
Offers and sales of BACs in Series 16 were completed on December 28, 1992. The
Fund has committed proceeds to pay initial and additional installments of
capital contributions to 64 Operating Partnerships in the amount of
$39,579,774.

During the quarter ended December 31, 2000, $1,500 of Series 16 net offering proceeds had been used to pay capital contributions.  Series 16 net offering proceeds in the amount of $138,506 remain to be used by
the Fund to pay remaining capital contributions to the Operating Partnerships that Series 16 has invested in as of December 31, 2000.

(Series 17)  The Fund commenced offering BACs in Series 17 on January 24,
1993.  Offers and sales of BACs in Series 17 were completed on June 17, 1993.
The Fund has committed proceeds to pay initial and additional installments of
capital contributions to 49 Operating Partnerships in the amount of
$36,538,204.

During the quarter ended December 31, 2000, $20,000 of Series 17 net offering proceeds had been used to pay capital contributions.  Series 17 net offering proceeds in the amount of $410,802 remain to be used by
the Fund to pay remaining capital contributions to the Operating Partnerships that Series 17 has invested in as of December 31, 2000.

(Series 18)  The Fund commenced offering BACs in Series 18 on June 17, 1993.
Offers and sales of BACs in Series 18 were completed on September 22, 1993.
The Fund has committed proceeds to pay initial and additional installments of
capital contributions to 34 operating Partnerships in the amount of
$26,442,202.

During the quarter ended December 31, 2000, none of Series 18 net offering proceeds had been used to pay capital contributions.  Series 18 net offering proceeds in the amount of $18,554 remain to be used by the Fund to pay remaining capital
contributions to the Operating Partnerships that Series 18 has invested in as of December 31, 2000.

(Series 19).  The Fund commenced offering BACs in Series 19 on October 8,
1993.  Offers and sales of BACs in Series 19 were completed on December 17,
1993.  The Fund has committed proceeds to pay initial and additional
installments of capital contributions to 26 Operating Partnerships in the
amount of $29,614,506.

During the quarter ended December 31, 2000, none of Series 19 net offering proceeds had been used to pay capital contributions.  Series 19 net offering proceeds in the amount of $24,000 remain to be used by the Fund to pay remaining capital
contributions to the Operating Partnerships that Series 19 has invested in as of December 31, 2000.

Results of Operations

As of December 31, 2000 and 1999 the Fund held limited partnership 
interests in 241 Operating Partnerships.  In each instance the Apartment 
Complex owned by the applicable Operating Partnership is eligible for the 
Federal Housing Tax Credit.  Occupancy of a unit in each Apartment Complex 
which initially complied with the Minimum Set-Aside Test (i.e., occupancy by 
tenants with incomes equal to no more than a certain percentage of area median 
income) and the Rent Restriction Test (i.e., gross rent charged tenants does 
not exceed 30% of the applicable income standards) is referred to hereinafter 
as "Qualified Occupancy."  Each of the Operating Partnerships and each of the
respective Apartment Complexes are described more fully in the Prospectus or
applicable report on Form 8-K.  The General Partner believes that there is
adequate casualty insurance on the properties.

The Fund incurred a fund management fee to Boston Capital Asset
Management Limited Partnerships (formerly Boston Capital Communications
Limited Partnership) in an amount equal to .5 percent of the aggregate cost of
the apartment complexes owned by the Operating Partnerships, less the amount
of certain asset management and reporting fees paid by the Operating
Partnerships.  The fund management fees incurred for the quarter ended
December 31, 2000 for Series 15, Series 16, Series 17, Series 18 and Series 19 
were $130,963, $170,359, $132,904, $92,487, and $102,837 respectively.

The Funds investment objectives do not include receipt of significant
cash distributions from the Operating Partnerships in which it has invested or
intends to invest.  The Funds investments in Operating Partnerships have been
made principally with a view towards realization of Federal Housing Tax
Credits for allocation to its partners and BAC holders.

Series 15

As of December 31, 2000 and 1999, the average qualified occupancy for the 
series was 100% for both years.  The series had a total of 68 properties at 
December 31,  2000, all of which were at 100% qualified occupancy.

For the nine months being reported Series 15 reflects a net loss from
Operating Partnerships of $1,892,557.  When adjusted for depreciation, which is a non-cash item, the Operating Partnerships reflect positive operations of
$802,842.  This is an interim period estimate; it is not necessarily
indicative of the final year end results.

Operations continue to improve at Hidden Cove Apartments (Hidden Cove) as 
evidenced by stabilized occupancy and increased rental collections. To date, 
the property has been able to complete minor capital improvements and fund its 
replacement reserve account without financial assistance.  The property 
operated above breakeven for the fourth quarter of 2000. At this time, the 
Operating General Partner has commenced negotiations with the property's 
management company and is expected to transfer the Operating General 
Partnership interest to that entity during the first quarter 2001.  It is 
anticipated that the addition of a local Operating General Partner will 
enhance the property's ability to refinance its permanent mortgage.

In April of 2000, School Street I LP, (School Street Apartments - Phase 
I) inserted Marshall School Street I, LLC, as the Operating General Partner 
and property management company.  Since taking control, the management company 
completed the capital improvements program and improved the tenant selection 
criteria.  As a result, physical occupancy at the property improved and should 
continue to improve in to 2001.  As of December 31, 2000 occupancy was 96%, 
which was also the average occupancy for the fourth quarter of 2000.  The 
property management team, at the direction of the Operating General Partner, 
evicted tenants with delinquent rents, which resulted in higher maintenance 
and administrative costs than budgeted for 2000.  However, based on the higher 
occupancy and the improved tenant selection criteria, the property's 
operations should improve in 2001.  The Operating General Partner continues to 
fund any operating cash deficits.

Series 16

As of December 31, 2000 and 1999, the average qualified occupancy for the 
series was 99.9% and 99.7%,

For the nine months being reported Series 16 reflects a net loss from
Operating Partnerships of $2,578,144.  When adjusted for depreciation, which 
is a non-cash item, the Operating Partnerships reflect positive operations of
$1,117,536.  This is an interim period estimate; it is not necessarily
indicative of the final year end results.

Cass Partners, L.P. (Fitzgerald Apartments) continues to operate below 
breakeven due to low occupancy.  An increased supply of affordable housing in 
the area with superior amenities hampered marketing efforts and made tenant 
retention difficult. Average physical occupancy for 2000 was 75%, down from an 
average of 85% in 1999.  Property management is reviewing rent decreases and 
other rental incentives to better compete against the newer affordable housing 
complexes.  The Operating General Partner continues to support the property 
financially .  In addition, the second mortgage matured in August of 2000.  
The mortgage is being extended on a month to month basis with the expectation 
the second mortgage will be refinanced in the first quarter of 2001.

In January of 2001, Haynes House Associates II, L.P. (Haynes House 
Apartments) experienced a fire in one of the units due to tenant neglect.  The 
management company is in the process of evicting the tenant due to a disregard 
of apartment regulations that led to the fire.  Although only the unit in 
which the fire started suffered fire damage, surrounding units experienced 
smoke and water damage.  As of January 31, 2001, the surrounding units have 
been repaired.  Repairs are ongoing to the fire-damaged unit.  The insurance 
company was notified and the property is in the process of submitting an 
insurance claim.  The Investment Limited General Partner will continue to 
monitor the situation.

Series 17

As of December 31, 2000 and 1999, the average qualified occupancy for the 
series was 99.7% for both years.  The series had a total of 49 properties at 
December 31, 2000.  Out of the total 48 had 100% qualified occupancy.

For the nine months being reported Series 17 reflects a net loss from
Operating Partnerships of $1,449,589.  When adjusted for depreciation, which, 
is a non-cash item, the Operating Partnerships reflect positive operations of
$1,349,072. This is an interim period estimate; it is not necessarily 
indicative of the final year end results.

Annadale Housing Partners (Kingsview Manor & Estates) has previously 
reported net losses due to operational issues associated with the 
property.  Average occupancy for the year 2000 was 93.54%.  In order to reduce 
operating costs, a loan restructure was finalized with the first mortgage 
lender.  The monthly mortgage payments were reduced by 79%, thereby 
alleviating the property of a large monthly cash obligation.  The payment to 
the first mortgage holder was funded through the sale of a portion of the 
Operating Partnerships future credit stream.  With the additional cash 
available from a lower monthly debt service payment and increased rental 
rates, property operations are anticipated to improve significantly over prior 
years.  As of December 31, 2000, the property maintained break-even 
operations.  The Investment General Partner continues to monitor this 
situation closely.  Negotiations have been concluded with a third party to 
have them assume General Partner responsibilities and management for the 
partnership.

The mortgage lender for Cypress Point Limited Partnership (Laurel Ridge 
Apartment) placed the partnership in default of its mortgage because the 
property failed to achieve the required debt service coverage ratio and failed 
to make its required real estate tax payment.  The existing loan terms 
provided for an interest rate adjustment after the initial five-year permanent 
mortgage period.  When this adjustment occurred there was a rate increase, 
which in turn increased the property's debt service payment, adversely 
affecting operations.  The Investment Limited Partner advanced funds to the 
partnership to bring the taxes current.  On September 25, 2000, BCP Wisconsin 
LLC became the managing general partner of the partnership.  BCP Wisconsin LLC 
is working with the lender in an effort to structure a workout plan.  A 
proposal has been made to the lender for a forbearance period during which 
time the property would undergo a limited renovation aimed at eventually 
increasing rents.  The proposal also included refinancing the property at the 
end of the forbearance period.

The property owned by California Investors VI LP (Orchard Park) had an 
average occupancy of 96% for 2000. This stability has been the result of the 
management company's aggressive marketing efforts and the many capital 
improvements completed at the property, including office renovations and the 
addition of an activity center.  These improvements have been successful in 
attracting and retaining tenants.  The property's surrounding area is 
experiencing economic growth which includes a major public sports park which 
opened in September of 2000.  The park is essentially a complex of ball fields 
and soccer fields with a central concession area.  Attendance has been fairly 
good since the park opened and is expected to increase dramatically once 
leagues are formed for the children in the community.  In addition to the 
park, a high school is in the process of being built.  Work has continued on 
the new school that will be located across the street from the front entrance 
of the development.  Site preparation continues and the framing of the 
building structure is expected to begin in the next month or two. These types 
of public developments in the area should continue to increase the quantity of 
automobile traffic around Orchard Park and in turn should continue to assist 
with marketing efforts.  The community has experienced an increased level 
of interest over the last several months from prospective new tenants.  There 
is now a waiting list for units and this has enabled the property management 
staff to be much more aggressive in dealing with the problem tenants.  
Negotiations have concluded with a third party to have them assume 
General Partner responsibilities and management for the partnership.  An 
amendment to the Partnership is in the process of being executed.

Physical occupancy at Palmetto Properties Ltd. (Palmetto Villas)  
averaged 84% for the year 2000, with the fourth quarter averaging 97%.  
Occupancy at the site began to drop early in 1999 due to poor on-site 
management and significant deferred maintenance issues.  As a result, the 
property management company was replaced in January 2000. In addition, the 
property is in arrears on its real estate tax payments for 1998 and 1999.  At 
this time, the Investment General Partner is working with the new management 
company to obtain low interest deferred maintenance loans to complete 
necessary repairs, improve occupancy and cure the tax delinquency.  The 
Investment General Partner continues negotiations with the current Operating 
General Partner aimed at removing him from the partnership.  The new 
management company has expressed interest in assuming the role of Operating 
General Partner, and based on the management company's performance to date, 
the partnership would benefit substantially from this arrangement.

Series 18

As of December 31, 2000 and 1999 the average qualified occupancy 
for the series was 99.9% and 100%, respectively.  The series had a total of 
34 properties at December 31, 2000, out of the total 33 had 100% qualified 
occupancy.

For the nine months being reported Series 18 reflects a net loss from
Operating Partnerships of $1,210,647.  When adjusted for depreciation, which 
is a non-cash item, the Operating Partnerships reflect positive operations of
$672,112.  This is an interim period estimate; it is not necessarily
indicative of the final year end results.

Harris Housing Limited Partnership (Harris Music Lofts) achieved break-
even operations during 2000.  The Operating General Partner brought the tax 
and insurance escrow current.  The Operating General Partner streamlined 
expenses by sharing personnel and bulk ordering of supplies with another 
property that is only one mile away.  This reduction in expenses has allowed 
the partnership to increase its required deposit into the security deposit 
account.  Average occupancy for 2000 was 99%. There was a rent increase 
effective May 1, 2000 which  generated some additional revenue for the 
property.

Marengo Park Apartments, Limited Partnership (Marengo Park)is operating 
below breakeven due to low occupancy levels.  Occupancy averaged 84% in 2000. 
Management has attributed the occupancy problem to the local economy.  Due to 
historical low occupancy rates, the property suffered from under funded 
reserves and delinquent real estate taxes.  The Investment General Partner and 
the Operating General Partner negotiated a workout plan with Rural Development 
to address these issues.  Now that the workout plan is in place both real 
estate taxes and reserves are current.  Additionally, Rural Development 
approved Special Market Rate rents at the property in an effort to improve 
occupancy.  At December 31, 2000, occupancy was at 87%.

Parvin's Limited Partnership (Parvin's Branch Townhomes) continues to 
incur operating deficits due to higher than average operating expenses and 
occupancy issues with its six transitional units.  The Operating General 
Partner and the management company have been deferring their respective fees 
to improve the property's cash flow.  In addition, the Operating General 
Partner continues to fund deficits.  The property currently has an occupancy 
rate of 100%.  The management company continues to monitor operating expenses 
and reports that expenses remain stable and within acceptable levels.  However 
the property continues to operate with a small deficit.  Management 
anticipates breakeven operations by mid-2001.

On March 20, 2000 Glen Place Apartments Limited Partnership(Glen Place 
Apartments) received a 60-Day letter from the IRS stating the Operating 
Partnership had not met certain IRS Section 42 requirements.  The Investment 
Limited Partner was notified of the 60-day letter in the second quarter of 
2000. The IRS has proposed an adjustment that would disallow the Partnership 
from utilizing certain past or future credits.  In late October 2000, counsel 
representing the General Partner had a conference with the appellate conferee.  
At this point, conversations with the appellate conferee continue but no 
deadline has been established for settling the case.  The Operating General 
Partner and its counsel do not anticipate an outcome that would have a 
material effect on the financial statements and accordingly, no adjustment has 
been made in the accompanying financial statements.  While the Operating 
General Partner and its counsel are of this opinion, it is of the opinion of 
the Investment General Partner that the outcome could, in total, be material.  
At this point, no adjustments have been made to accompany financial statement.  
The Investment General Partner will continue to closely monitor the process.

Series 19

As of December 31, 2000 and 1999 the average qualified occupancy 
for the series was 100% for both years.  The series had a total of 26 
properties at December 31, 2000, all of which were at 100% qualified 
occupancy.

For the nine months being reported Series 19 reflects a net loss from
Operating Partnerships of $1,065,807.  When adjusted for depreciation, which 
is a non-cash item, the Operating Partnerships reflect positive operations of
$1,141,564. This is an interim period estimate; it is not necessarily 
indicativeof the final year end results.















PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

None

Item 2.  Changes in Securities

None

Item 3.  Defaults upon Senior Securities

None

Item 4.  Submission of Matters to a Vote of Security Holders

None

Item 5.  Other Information

None

Item 6.  Exhibits and Reports on Form 8-K

(a)  Exhibits

None

(b)  Reports on Form 8-K













SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

BOSTON CAPITAL TAX CREDIT 
                                FUND III L.P.



By:  Boston Capital Associates III L.P.





By:  C&M Associates d/b/a 
                                     Boston Capital Associates



Date:  February 20, 2001           By:

John P. Manning,
                                     Partner & Principal Financial

                                     Officer